Metro Manila (CNN Philippines, July 6) — The prices of basic goods rose slower in June with food and transport costs driving the increase, the Philippine Statistics Authority reported Tuesday.

Inflation came to 4.1% during the month, compared to 4.5% the month prior and 2.5% in June 2020.

The recent figure is also slower than the 4.3% point inflation forecast of the Bangko Sentral ng Pilipinas for June, falling within its 3.9-4.7% target range.

The BSP expected higher Meralco rates and a weaker peso performance to primarily drive inflation up in June but partially offset by the drop in costs of main food items like rice, meat and fruits due to improved supply conditions.

This is a developing story.

Source: https://cnnphilippines.com/business/2021/7/6/inflation-June-2021.html?fb&fbclid=IwAR2VK5xVDZ6_f1EyAGFXd2h0J5Z-BJU2PwpCf0u8zwzHp1LnvvDoVAx3iU0